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Top 5 Benefits of Banking at a Credit Union

Whether you’re already a credit union member or thinking about joining one, it’s helpful to know the benefits of banking at a credit union. In addition to helping you save a lot of money, it will also give you a say in what happens with your money. Here is a review of the top benefits you can enjoy as a credit union member.

1. Lower Interest Rates on Loans

Generally, credit unions offer significantly lower interest rates on loans. So, next time you need a loan for a car, home or special need like a home repair or emergency, be sure to check your credit union’s interest rate.

2. Higher Interest Rates for Share Certificates (similar to CDs)

If you’re looking for a greater return on a long-term savings account, Share Certificates issued by a credit union many times offer higher interest rates than regular banks.

3. Member Only Discounts!

Because credit unions are made up of a group of members, many companies offer special deals and coupons only available to credit union members. For a full list of what is available for Select FCU members, click here and check out the Love My Credit Union Rewards.

4. Control Over Financial Decisions Impacting Your Account

As a credit union member, you are more than just a customer. You are a voting member of an organization. So that means that you have a “say-so” in the credit union’s decisions that may impact your life.

5. More Personal Attention

At Select FCU, it also means that you are more than just a number. Because you’re a member and have a relationship with the credit union, your requests will be handled in a more personal manner. For example, when apply for a loan, your personal situation will be considered in addition to just the numbers.

Due to its status as a Community Development Financial Institution, Select FCU can also offer special programs and loans that might not be approved by other banking institutions.

To learn more about Select FCU membership or join, stop by one of the branches or give us a call at (210) 223-6571.

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